The Emotional Bank Account

The Emotional Bank Account

Stephen Covey introduced the concept of the emotional bank account in his highly-acclaimed book, The Seven Habits of Highly Effective People.

The idea is similar to a financial bank account where we make deposits and withdrawals. The emotional bank account increases and decreases as well, but not using money. Instead, we tap into a reserve of honesty and trust in hopes for growth.

Using Covey’s concept could have a significant impact on the auditor and auditee relationship. Actually, following these few simple guidelines could drastically improve all your relationships!

Understand the auditee

Listen intently to what the auditee says and empathize with how they may feel. Act with kindness and respect even if you don’t agree to pump up the balance of their emotional bank account with you.

Keep commitments

Arrive right on time for meetings and do what you say you will do. Make a promise and keep it! Watch the auditee’s emotional bank account grow.

Clarify expectations

We are not mind readers, and yet we consistently expect others to know what we expect of them. Communicate your expectations of the auditee and allow them to respond by meeting your expectation. Now they are making a deposit into YOUR emotional bank account!

Attend to the little things

Little things tend to become the BIG things if ignored. Small kindnesses, a smile, a little extra effort and doing something you didn’t “have to” all demonstrate respect and care for your auditee.

Maintain integrity

Integrity is the moral floor upon which trusting relationships are built. When we do the right thing, even when it is hard, it makes it easy for others to trust us. Ka-ching! Big emotional bank account deposit!

Apologize

We will make mistakes. It’s part of every audit. But when you have violated a trust, sincerely apologize. This makes a healthy deposit to counteract the withdrawal we made.

Want to learn more?

If you think the graphic is a good starting point, but you need more in-depth instruction, I invite you to check out the Creating a Productive Auditor & Auditee Relationship Bundle. This series of four self-study courses includes Improving the Auditor and Auditee Relationship which helps the auditor have friendly and productive conversations with the auditee.